Funding is the enabling factor for leading-edge research and implementing prototypes of various risk levels.
Governmental agencies on national or EU level provide financial support for basic research on innovative ideas or partly cover the cost of high-risk projects. The higher the Technology Readiness Level (TRL) of a product the higher the probability that companies participate in funding consortia, as they create a competitive advantage for themselves.
The Austrian Research Promotion Agency (FFG) is the national funding agency for industrial research and development in Austria. FFG funding schemes play an important role in generating new knowledge, developing new products and services, and enhancing competitiveness in the global marketplace. They make it easier, or possible, to finance research and innovation projects, and help to absorb the risks involved in research. The FFG supports international networking and encourages careers in science.
Horizon 2020: The EU Framework Program for Research and Innovation
Horizon 2020 is the biggest EU Research and Innovation program ever with nearly € 80 billion of funding available over 7 years (2014 to 2020) – in addition to the private investment that this money will attract. It promises more breakthroughs, discoveries and world-firsts by taking great ideas from the lab to the market.
Horizon 2020 is the financial instrument implementing the Innovation Union, a Europe 2020 flagship initiative aimed at securing Europe's global competitiveness.
Austria Wirtschaftsservice Gesellschaft mbH (aws)
Austria Wirtschaftsservice Gesellschaft mbH (aws) is the Austrian federal promotional bank. It assists companies in their implementation of innovative projects by granting loans, awarding subsidies and issuing guarantees at favorable interest rates, particularly in cases in which it is not possible for these companies to obtain the necessary funds in a sufficient amount from other sources of financing.
In addition, it provides support in the form of specific information, advisory and other services to prospective, established and expanding companies.